LEGACY GIVING

An endowment fund is a permanent pool of invested assets. The original principal—the "corpus"—is held indefinitely, while a set portion of the investment earnings is distributed annually to support the organization's mission. It functions like a perpetual savings account, providing reliable long-term financial stability.

You may make a donation in any amount to the 2 NAHS Endowment Funds: The NAHS Educator Endowment Fund or The NAHS Archivist/Curator Endowment Fund.

DONATE HERE.

The North Andover Historical Society Educator Endowment Fund is established to ensure the long-term financial stability of the museum educator position, thereby securing the Society's mission for future generations. This endowed fund will provide a dedicated and sustainable source of income to support the museum educator's salary, benefits, professional development, and essential resources.

In the event of the North Andover Historical Society ceasing operations, the Educator Fund will be transferred to a designated successor organization within North Andover with a similar mission of supporting history education. The preferred recipients are the North Andover Public Schools to directly support history or civic education, or the Essex County Community Foundation (ECCF) as an independent fund dedicated to furthering history education.

The North Andover Historical Society Archivist Endowment Fund is established to ensure the long-term financial stability of the Archivist and Curatorial positions, thereby securing the Society’s mission for future generations. This endowed fund will provide a dedicated and sustainable source of income to support the Society’s archivist and curator salaries, benefits, professional development and essential resources including exhibit design and materials.  

How Endowments Work

1. The Principal: Donors contribute cash or assets with the legal restriction that the principal cannot be spent.

2. Investment & Growth: The funds are invested in stocks, bonds, or other vehicles. The principal grows over time through market appreciation and reinvested earnings.

3. Payout: Each year, the nonprofit withdraws a specific, prudent percentage (often 3% to 5%) of the fund's total value to fund operations or specific programs.

Key Types of Endowments

• True (Permanent) Endowments: Created by a legal agreement with an outside donor. The restrictions are permanent and legally binding.

• Term Endowments:Similar to true endowments, but the principal can be spent or released after a specified period or specific event occurs.

• Quasi-Endowments (Board-Designated): Created by the nonprofit's own Board of Directors using general operating surpluses. Because the board created the fund, a future board can vote to dissolve it and use the principal if needed.

The minimum gift for a new endowment fund is $25,000 in cash or stocks. To create a NEW FUND, Fill out this form

ECCF now accepts cryptocurrency donations to further elevate your giving.

There is no minimum if you wish to make a donation to a current fund. DONATE HERE.

Fill out this form and our Director (Joanna Collantine Kerr) will reach contact you in a timely manner.

The minimum gift to establish a new Endowment Fund is $25,000 in cash or stock.

ECCF now accepts cryptocurrency donations to further elevate your giving.

ECCF stands for the ⁠Essex County Community Foundation, a major philanthropic nonprofit organization headquartered in Beverly, Massachusetts. Established to serve all 34 cities and towns in Essex County, ECCF acts as a central hub for regional giving to improve the quality of life for the county's 800,000+ residents.

Here are a few key things ECCF does:

• Nonprofit Support: They provide critical grants, educational resources, and strategic support to the thousands of nonprofits operating across Essex County.

• Philanthropy & Donor Services: They help individuals, families, and businesses establish charitable funds (like donor-advised and scholarship funds).

• Community Initiatives: ECCF leads collaborative, systemic change projects tackling major regional issues, such as affordable housing, digital equity, the arts, and veterans' support.

• Community Response: They manage funds specifically designed to rapidly distribute flexible money to cash-strapped nonprofits meeting essential needs like food and shelter.

• Cash

• Stock

• Cryptocurrency

• Real Estate and Personal Property

• Transfer an existing Donor Advised Fund

• Qualified Charitable distribution from IRA

• Convert a private foundation

LEARN MORE HERE.

Yes, you may choose from any of the following options:

• General Fund

• ESG Fund

• Money Market

• Financial Advisor Program

LEARN MORE HERE